Lacombe’s Midway Centre looking to attract tenants

Albertan economy, COVID-19 leading to difficulty finding suitors

Lacombe residents are eagerly awaiting more shopping options in the community and the Midway Centre is now fully serviced and ready to welcome new franchises to the community

Royal LePage Lifestyles Realtor Boyd Williams said the property located west of the city on the way to the QEii has had plenty of interest from developers and franchises — it is just a matter of finding management willing to buy in.

“Even before the virus, the economy and the state of business made it tough. We had developers ready to build buildings if we had tenants, but they weren’t willing to build without 40 to 50 per cent tenancy. That is our main obstacle,” he said.

Williams said they have made contact with many big-name realtors and they have all expressed interest in the locations.

“We are working on that, so there are possibilities out there for sure,” he said.

Williams said the trip-up comes from a struggling Albertan economy and the up-front costs required to open a chain restaurant or retail store.

“They have to pay a franchise fee, they have to put deposits down for leases and then they have to do all of the tenant improvements on their own. Sometimes tenant improvements can be $250,000 if you are building something like a Ricky’s. It really starts to add up,” he said.

Despite the economy, Lacombe residents should see the first service station open up in the next four to six months.

“The survey stakes are up and I believe we are moving forward with the service station and strip mall up on the top corner as you approach in,” he said.

Williams believes the project remains on “firm-footing”, with all of the necessary infrastucture in place.

“Everything is all serviced and ready to go. There is no problem with having the lots up and running,” he said.

There are ready to start to move some dirt. I would say you are looking at four to six months to have a service station up and running.

Williams said interested management can contact Royal LePage Lifestyles. Williams and his team have been in contact with many franchises and they are able to put interested applicants in touch.



todd.vaughan@lacombeexpress.com

Like us on Facebook and follow us on Twitter

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

160 new COVID-19 cases reported in Alberta on Tuesday

Province now has 1,571 active cases

Return to class has gone better than expectation, WCPS says

Staff with Wolf Creek Public Schools say the return to in-class teaching has gone very well

PHOTOS: Eighth annual Wood Show in Lacombe

Central Alberta Wood Workers and Woodturners Guild hosted its annual show recently

Central zone down to 16 active COVID-19 cases

Alberta Health Services’ central zone is down to 16

No safe mask option for bearded members, RCMP says, but force is exploring solutions

RCMP says respirator not mandatory in all front-line situations, but sometimes needed to reduce risk

Metis pilot Teara Fraser profiled in new DC Comics graphic novel of women heroes

The Canadian pilot’s entry is titled: ‘Teara Fraser: Helping Others Soar’

Leduc Man still missing, RCMP concerned for his well being

31-year-old Ryan Mcleod has been missing since Sept. 10, 2020.

Sylvan Lake family says they are ‘blessed’ to have found their home in Central Alberta

Onsy and Rosemary Tawadrous immigrated to Canada in 2011 and made their home in Sylvan Lake

Tractor fire east of Ponoka doused

Flames extinguished with foam additive

Wetaskiwin restaurant asks City for help with excessive property damage caused by continuous loiterers

Employees say that they are scared for themselves and their customers.

Orange Shirt Day lessons of past in today’s classrooms

Phyllis Webstad, who attended St. Joseph’s Mission Residential School in British Columbia, is credited for creating the movement

Greens’ Furstenau fires at NDP, Liberals on pandemic recovery, sales tax promise

She also criticized the NDP economic recovery plan, arguing it abandons the tourism industry

Most Read